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Telecom, cement stocks see mixed trend

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Key benchmark indices continued to languish near the flat line in mid-morning trade amid subdued trading in Asian stocks. At 11:16 IST, the barometer index, the Sensex, was almost unchanged at 34,432.74. The 50 was down 4.65 points or 0.04% at 10,627.55.

Among secondary indices, the Mid-Cap rose 0.42%. The Small-Cap advanced 0.78%. Both these indices outperformed the

The breadth, indicating the overall health of the market, was strong. On the BSE, 1,601 shares rose and 991 shares declined. A total of 116 shares were unchanged.

Telecom stocks were mixed. (down 0.45%), (down 0.72%) and (Maharashtra) (down 0.43%) edged lower. (up 1.61%) and (up 0.98%) edged higher.

also witnessed a mixed trend. (down 0.83%), ACC (down 0.09%) and (down 0.06%) edged lower. (up 0.67%) and (up 0.06%) edged higher.

rose 1.61% at Rs 192.30 after the company entered into a concession agreement with government for Dewas water supply project. The announcement was made after trading hours yesterday, 10 January 2018.

On the macro front, according to the World Bank's Global Economic Prospects report released yesterday, 10 January 2018, is likely to reclaim its position from as the fastest growing major in 2018, with growth expected to accelerate to 7.3% in the year. The also revised India's growth estimate for 2017 to 6.7% from 7% projected in October, blaming short-term disruptions caused by the newly introduced goods and services tax (GST) and a softer-than-envisioned recovery in private investment. The report projected China's economic growth to slow to 6.4% in 2018 from 6.8% in 2017.

Meanwhile, the government is scheduled to announce industrial production data for November 2017 tomorrow, 12 January 2018. India's industrial production increased by 2.2% year-on-year in October, easing from an upwardly revised 4.1% gain in September.

The government will also announce tomorrow, 12 January 2018, inflation data based on consumer price index (CPI) for December 2017. Consumer prices increased 4.88% year-on-year in November, higher than 3.58% in October.

Overseas, Asian stocks edged lower after Wall Street slipped overnight on bond report. US stocks fell yesterday, 10 January 2018 as investors fretted over the possibility of halting its Treasury bond purchases and the US pulling out of North American Agreement (NAFTA).

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, January 11 2018. 11:17 IST